Financial results of First Punjab Modaraba for Quarter ended September 30, 2019

Karachi, First Punjab Modaraba informed Pakistan Stock Exchange about the recommendations made by the board of directors in the meeting held at Lahore on November 08, 2019.

The agenda of the meeting was discussion of Unconsolidated and consolidated profit and loss account for quarter ended September 30, 2019 which portrayed a profit of Rs. 6,225,166 and Rs. 7,021,106 with earnings per share 0.18 and 0.21 basic and diluted respectively.

Further, nil payment of cash dividend, bonus shares and right shares was agreed.

First Punjab Modaraba is established in Pakistan on July 14, 1992 under Modaraba Companies and Modaraba (Floatation and Control) Ordinance 1980 and the rules framed there under and managed by Punjab Modaraba Services Private Limited, a wholly owned subsidiary of The Bank of Punjab. The modaraba commenced its operations from 23 December 1992. The Modaraba is a perpetual and multi-dimensional Modaraba and is primarily engaged in the business Musharikah Finances, Ijarah finances and other related business in accordance with the injunctions of Islam. The stocks of the modaraba are quoted on the Karachi, Lahore and Islamabad Stock Exchange of Pakistan. The registered office of the company is located in Lahore.

The symbol “FPJM” is being used by the stock exchange for the shares of First Punjab Modaraba.